Shiba Inu ETF (Exchange Traded Fund) is the highlight of the day as the community has requested Grayscale Investments an ETF for the Shiba Inu meme coin. A petition is being shared among the community through X for the greyscale CEO Michael Sonnenshein to consider the potential this coin has in the market. Well, when that’s in progress, let’s discuss everything you need to know about the Shiba Inu ETF.
The topic of discussion of Shiba Inu ETF came after a Shiba Magazine talked about the “Wen SHIB ETF?” This one statement has led to the interest in the community and led to the petition signing. There are three primary reasons for this ETF to happen per the proponents of Shiba Inu ETF.
For a petition to be approved, the community ought to collect 1000 signs. Out of which, ETF for SHIBA has already received approval from 600 people. It won’t take much more time for that to happen.
The community has shown great support for this meme coin from the start and will play a role in approval as well.
The main thing to focus on is Greyscale’s support for the Shiba Inu community. For now, the company has no Shiba Inu trust to convert it into ETF with the SEC.
For now, we only have the Bitcoin ETF, which created the path of success of other ETFs the way it did for cryptocurrency when it was launched in 2009. As per the definition, ETF mirrors the way a real cryptocurrency behaves and mimics the price and pattern to help a person hold digital assets without the pressure and responsibility a crypto is associated with. And such an option can help make digital asset trading much more effortless.
Having a Shiba Inu ETF can be an extra point for the SHIBA Inu community. It will lead to more growth and opportunities for the coin.
The Shiba Inu ETF petition is roaming in the crypto community and might collect all the required signatures in time. What’s concerning is Greyscale’s trust in Shiba Inu to convert into ETF. The chances of the ETF for Shiba are comparatively lower as the Ethereum ETF is on hold for some time. Read more about the release date for Ethereum ETF.
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